HOMEFAQWhat Is a Self-Custody/Non-Custodial Wallet?

What Is a Self-Custody/Non-Custodial Wallet?

In the traditional world, you pay your wages into a bank account and use it to pay for goods and services. However, the bank can pool its customers’ money and make investments without your consent. So while it is your money, you are not in complete control, and if there is a financial catastrophe, the bank can stop you from withdrawing your funds if they do not have the liquidity to cover withdrawals. We saw this recently with the FTX collapse, where the crypto exchange controlled users' assets and restricted their access when everyone wanted to cash out.

With self/non-custodial services like Savl wallet, this scenario is not possible. You always have access to your funds, you own your data, and you own your security (keys). 

With decentralized finance (DeFi), any blockchain is simply a distributed database containing transactional data. Savl gives you the tools to browse or explore these databases, i.e., Savl is to the blockchain what Google’s Chrome is to the web - a browser.